Treasury's Pre-Election Economic and Fiscal Update forecasts no recession but shows the Government will be in deficit longer than predicted in May and take on billions more debt. 

It’s predicted that the government won’t return to surplus until 2027, a year later than previously forecast.  

Robert MacCulloch, Auckland University Professor of Macroeconomics, told Kerre Woodham that in his opinion, how Grant Robertson described the update didn’t add up. 

He said that Robertson argued that the GDP was growing, and wages were going up faster than inflation and as a result kiwis should be feeling cost of living pressures less, which doesn’t feel right. 

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